OMG 😱NSE: WIPRO
Hello guys today after seeing the chart i got these things
1. If goes down then target could be taken at 700 This could be taken as a maximum target
2. Can be taken if break the nearest gap shown on the chart
3. The Moving Averages making a crossover shows up a bull signal
4. Time Frame :- 1 Day
Conclusion :-
A frypan bittom pattern which is at the current level i have saw some forecasts show that it could be up and could followed by the market but if it breaks the small gap also i also got that to follow us and like the posts and Comment Below If You want to ask me questions on this on any other idea
Have a Nice Day to you all
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WIPRO trade ideas
Wipro : RSI Bullish Divergence Let's understand the RSI Bullish Divergence before we take it into account.
RSI Bullish Divergence
Like all indicators,Divergence also fails sometimes, Success rate of RSI Bullish Divergence is 40-45% for Trade
RSI Bullish divergence will provide good accuracy in Daily Time Frame . As per my view avoid shorter time frame anything below 60 mins
RSI Bullish divergence is formed in Bearish Market or Bearish Price Structure ,It will hard to find in Bullish Market Trend or Bullish Market Structure
Let's decide whether this Bullish divergence of RSI will work for us or not
RSI Bullish Divergence Appeared on Bearish Price Structure - Looks Positive for Trade
Price has fallen almost high from 613 to low from 390- Looks Positive for Trade
Volume trend has been strong over the past few days - Looks Positive for Trade
Trade Set Up
Stop Loss Should be the recent low which is 390Rs (Lower Low Point)
Entry Point Should be the recent high which in 430 Rs (Lower High Point)
Target 480-490
Happy Trading ! Support Trading Community !
TARGETS READY WIPROWipro seems fall and consolidations over on daily chart, it falls very sharply from two three months made a bottom and breaking first resistance above bottom and close above good on Bollinger bands too on daily charts so for swing and positionally on both way it is looking good breaks a major hurdle on Relative strength indicator too.
CAUSE OF LONG
1- Horizontal resistance trendline breakout.
2- Relative strength indicator breakout.
3-Bollinger band breakout.
4- Combination breakout
Positional trade in Wipro, IT sector recovery soon?IT sector has been under performing from the last few months and the Nifty IT index has taken a major support in the range of 26300-26400.
A similar pattern has formed in Wipro which has taken it's previous major support at the levels of 400.
Since Wipro has corrected more than 40% from it's ATH, there is a high probability of sharp up move once recovery starts in IT sector.
A positional trade can be taken in Wipro with the targets mentioned in chart.
Please perform your due diligence before taking a trade and share your views in comments.
Follow for regular trade ideas. Happy Trading:)
Wipro 1HJust placed my idea in Position drawing.
Red Zone: Resistance or Breakout Zone
Grey Zone: Repeated Hurdles (Support/Resistance)
Green Zone: Support or Breakdown Zone
Note: BUY above Red Zone
BUY at Green Zone.
SELL at Red Zone or Trail at Grey Zone
Just follow the Entry & Exit. Trail SL after 1:1 to Cost + Brokerage.
Also you can ask for my views on any chart.
Wipro Research24-07-2022
Stochastics are at low shows to go high and touch 473.85 till mid-October according to the Fibonacci tool Analysis
Wipro Released its Q1FY2022 results where it grew its revenue but issuing dividends to the shareholders made an unusual expense to the company.
CFO Jatin thinks, issuing dividends is the reason behind its increased expenses and fall in NET Profit and Stock Price.
Profit of the company fall 21% YoY
Wipro is just spending on its marketing strategies for the upcoming Quarter and their Financial expenses were more than the last FY same Quarter end!
Theirry Delaport states their clients' word while supporting Wipro's increased expenses- Technology is not a cost it's an investment, it's a way to transform to improve productivity.
According to my Analysis and understanding, I think there is something big to hit at the upper level for Wipro from this point as it's below its intrinsic value and we see the economy recovering from the inflation so I believe this point would be the lowest for Wipro and it will show a very peculiar growth in Q2 as its already at the bottom of its potential in the stock market after looking at its Stochastics NSE:WIPRO
GO LONG ON WIPRO SHORT TERMNSE:WIPRO
THIS IS SHORT TERM TRADE .
INTRADAY TRADE OF TARGET 414 OF 2 %
There is daily support zone and next resistances zone on hourly chart is 414
The SGX nifty is also up 100 points which indicates bullishness in market .
For short term confirmation the stock is above moving average 20 which means the trade is correct .
A stop loss should be maintai n below 401 of 399 .
This is for educational purpose.